After a largely bearish week, cryptocurrencies have turned green in the past 3 hours. Interestingly, true UTXO blockchains are the ones that are showing strong bullish momentum, with Litecoin leading the way. Whether it’s just a short-term rally or the beginning of a long-term bullish trend, only time will tell. However, one thing is clear, Litecoin (LTC) is one of the cryptos that is well positioned for growth in 2019. The other crypto that could pull a surprise move this year is Digibyte (DGB). Here are a few reasons why these two coins could perform well this year, and reward investor who have waited patiently since 2018.
Litecoin (LTC) is one of the best performers today, and chances are that it could outperform the market all through the year. One of the factors that places Litecoin (LTC) in a good position for growth this year is the upcoming Litecoin halving in August. This is will reduce Litecoin’s block reward and cut its supply. As this event approaches, Litecoin (LTC) could experience FOMO buying, and see its value rise significantly.
On top of that, it could benefit from the growth of the Lightning network. As of Q3 of 2018, Litecoin Lightning Network had surpassed 100 nodes. With the growth of the Litecoin Lightning Network, Litecoin’s adoption as a payments cryptocurrency is also set to grow, which could give it the impetus for growth all through the year. With these two factors at play, coupled with the fact that Litecoin (LTC) has a low supply of only 84 million coins, there is no doubt that it is well positioned for growth in 2019 and beyond.
Digibyte (DGB) is another true UTXO cryptocurrency that is well positioned for growth in 2019. One of the factors that gives Digibyte (DGB) a good chance for growth this year is its fundamentals, relative to its price. Digibyte (DGB) is trading at a cent, and has been trading at this price for months, in spite of its fundamentals getting better. At this price level, if sentiment turns bullish in the entire market, investors would FOMO into highly undervalued cryptos like Digibyte (DGB).
Digibyte is undervalued because, not only is it good at its core functionalities, it is also gaining adoption for these functionalities. For instance, for its strengths in cybersecurity, Digibyte (DGB) has seen an increased uptake in the market. However, the biggest trigger to growth in 2019 could be the launch of Digi-assets. In 2018, Jared Tate hinted at Digiassets, which will enable organizations launch digital assets on the Digibyte blockchain. Given that Digibyte (DGB) is one of the most secure blockchains in the market, Digi-assets could trigger an explosion of Dapps on the Digibyte (DGB) blockchain, and push up its value.
With strong fundamentals backing them up, and the possibility of bullish sentiment in 2019, these two cryptos are likely to offer superior returns in 2019, and for years to come. They are solid bets for long-term investors.